The Total Rewards Manager is responsible for designing, implementing, and managing the organization's total rewards programs, including compensation, benefits, recognition, and wellness initiatives. This role ensures that total rewards strategies align with the company's objectives, support employee engagement, and attract and retain top talent.
Key Results Areas:
Compensation Management
- Develop and maintain competitive compensation structures and salary ranges.
- Conduct annual salary benchmarking and market analysis to ensure competitive positioning.
- Oversee the annual salary review process, including salary adjustments and bonuses.
- Ensure internal equity and compliance with relevant labor laws and regulations.
Benefits Management
- Design and manage comprehensive benefits programs, including health insurance, retirement plans, and other employee perks.
- Negotiate with benefits providers to secure the best options for the organization and its employees.
- Communicate benefits programs and changes effectively to employees.
- Ensure compliance with all benefits-related legal requirements and regulations.
Recognition and Rewards Programs
- Develop and implement employee recognition programs to enhance employee engagement and morale.
- Manage the administration of reward programs, including performance-based incentives and non-monetary rewards.
- Monitor the effectiveness of recognition programs and make improvements as needed.
HR Analytics and Reporting
- Utilize HR metrics and analytics to assess the effectiveness of total rewards programs.
- Provide regular reports and insights to senior management on compensation, benefits, and other total rewards metrics.
- Make data-driven recommendations for improving total rewards strategies.
Policy Development and Compliance
- Develop and update total rewards policies and procedures to ensure they are current and compliant with legal requirements.
- Monitor changes in laws and regulations related to compensation and benefits and adjust programs accordingly.
- Ensure all total rewards programs adhere to corporate governance standards and ethical practices.
Employee Communication and Support
- Serve as a point of contact for employees regarding total rewards-related inquiries and issues.
- Develop and deliver training sessions and informational materials to educate employees about total rewards programs.
- Foster a transparent and supportive environment for discussing compensation and benefits concerns.
Collaboration and Leadership
- Collaborate with HR team members and other departments to align total rewards programs with overall HR and business strategies.
- Provide leadership and guidance to HR staff involved in the administration of total rewards programs.
- Stay updated on industry trends and best practices in total rewards management.
QUALIFICATIONS:
- Bachelor's degree in Human Resources, Business Administration, or a related field. Master's degree or relevant certification is preferred.
- Minimum of 5-7 years of experience in compensation and benefits, with at least 3 years in a managerial role.
EXPECTED COMPETENCIES AND BEHAVIORS:
- Strategic thinking and ability to align total rewards with organizational goals.
- Strong negotiation skills for managing vendor relationships and benefits contracts.
- High level of integrity and confidentiality.
- Attention to detail and accuracy in data analysis and reporting
